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NBFC Auditor Report Directions 2008 Updated

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2012-13/22 · issued 02 Jul 2012 · ~2 min read
Quick answerRBI consolidated NBFC Auditor Report Directions 2008 as of June 30, 2012. Auditors must submit an additional report to the board covering CoR status, asset/income pattern compliance, and other specified matters for all NBFCs.

What changed

RBI issued a consolidated version of the NBFC Auditor’s Report Directions 2008, incorporating all amendments up to June 30, 2012. The updated notification supersedes the earlier 1998 directions and provides a single reference for auditor reporting requirements.

What it means for you

NBFC auditors must now include a separate report to the board on specific regulatory compliance matters, including whether the company holds a valid Certificate of Registration and meets asset/income pattern criteria. This enhances supervisory oversight and ensures auditors flag any non-compliance directly to the board.

Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.

What banks were required to do at the time

Who it affects

All Non-Banking Financial Companies (except Residuary NBFCs and Miscellaneous NBFCs), Auditors of NBFCs, Board of Directors of NBFCs

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

What is the key change in the 2012 updated Directions?

The Directions consolidate all amendments up to June 30, 2012 into a single notification, replacing the 1998 version. The core requirement remains: auditors must submit an additional report to the board on specific regulatory matters.

Does this apply to all NBFCs?

It applies to all NBFCs as defined under Section 45I(f) of the RBI Act, except Residuary Non-Banking Companies and Miscellaneous Non-Banking Companies.

What must the auditor report on regarding the Certificate of Registration?

The auditor must state whether the NBFC holds a valid CoR and whether it is entitled to continue holding it based on its asset/income pattern as on March 31 of the applicable year.

📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #1261: DNBS(PD)CC.No.280/03.02.001/2012-13 — "Notification as Amended upto June 30, 2012 'Non-Banking Financial Companies Auditor's Report (Reserve Bank) Directions,”
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/22 DNBS (PD) CC No.280/03.02.001/2012-13 July 2, 2012 To The Chairman/CEOs of all Non-Banking Financial Companies (except Residuary Non-Banking Companies and Miscellaneous Non-Banking Companies) Dear Sir, Notification as amended upto June 30, 2012  – “Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2008.” As you are aware, in order to have all current instructions on the subject at one place, the Reserve Bank of India issues circulars / notifications. The  instructions contained in the Notification No. DNBS.  201 /DG(VL)-2008 dated  September 18, 2008 updated as on June 30, 2012 are reproduced below. The updated notification has also been placed on the RBI web-site ( http://www.rbi.org.in ). Yours sincerely, (C.R.Samyuktha) Chief  General Manager Table of Contents Para No Particulars 1
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/22 · issued 02 Jul 2012. The plain-English explanation above is BankPulse’s own independent summary.
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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7322&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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